Gabriel deposits $2,500 into each of two savings accounts.
• Account I earns 4% annual simple interest.
• Account II earns 4% interest compounded annually.
Gabriel does not make any additional deposits or withdrawals.
What is the sum of the balances of Account I and Account II at the end of 3 years?
A) $5,600.00
B) $5,612.16
C) $5,624.32
D) $5,200.00

Option B) $5,612.16

Step-by-step explanation:

Part 1) Account I earns 4% annual simple interest.

we know that

The simple interest formula is equal to

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest  

t is Number of Time Periods

in this problem we have

substitute in the formula above

Part 2) Account II earns 4% interest compounded annually.

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

Part 3) What is the sum of the balances of Account I and Account II at the end of 3 years?

Sum the two final investment

let y equal to

the total fare and x is the mile of taxi ride. so the equation is

y = 0.55x + 1.75

since susie has

$10 to spend for a taxi cab, so he can have

10 = 0.55x +

1.75

x = 15 miles of

taxi ride

so the system of

inequality is

10 < 0.55x +

1.75

x > 2

multiply then divide

step-by-step explanation: